Haemonetics Corp (NYSE:HAE) has reported a recent transaction involving its Executive Vice President and General Counsel, Basil Michelle L, who sold shares in the company. According to the filing, the EVP sold a total of 2,677 shares of Haemonetics common stock across two separate transactions dated May 17 and May 20, 2024. The shares were sold at prices ranging from $95.00 to $95.08, amounting to a total of approximately $254,443.
In addition to the sales, the report disclosed that shares were withheld for tax obligations related to the vesting of restricted stock units (RSUs), which amounted to 669 shares at a price of $95.73, totaling around $64,043.
Moreover, the EVP was awarded 4,178 RSUs under the Haemonetics Corporation Amended and Restated 2019 Long-Term Incentive Compensation Plan, which vest annually over a three-year period. These awards, however, were reported with a transaction amount of $0, as they represent a contingent right to receive shares upon vesting.
The transactions were executed in accordance with a pre-established 10b5-1 trading plan, which allows insiders to sell shares at predetermined times to avoid accusations of trading on nonpublic information.
Investors often monitor insider transactions for insights into executive sentiment about the company's prospects. The sale of a significant amount of stock by a high-ranking executive might be noteworthy to shareholders and potential investors.
Haemonetics Corp is a global provider of blood and plasma supplies and services, known for its innovative solutions in blood management.
InvestingPro Insights
Haemonetics Corp (NYSE:HAE), a notable player in the blood and plasma service industry, has recently witnessed insider transactions that could be of interest to investors. As stakeholders evaluate the implications of executive moves, they might also consider the company's financial health and market performance, which are captured by key metrics from InvestingPro.
As of the last twelve months leading up to Q4 2024, Haemonetics has a market capitalization of $4.74 billion, reflecting the company's size and market value. The P/E ratio, a measure of the company's current share price relative to its per-share earnings, stands at 40.47, indicating a premium valuation that investors are willing to pay for Haemonetics' earnings. However, when adjusted for the last twelve months, the P/E ratio is slightly lower at 33.17, suggesting a potential normalization of earnings expectations.
Investors should note that Haemonetics has been trading near its 52-week high, with the price being 95.12% of this peak. This could signal market confidence in the company, reinforced by a strong return over the last three months of 27.19%. The company's revenue growth also remains robust, with a 12.01% increase over the last twelve months as of Q4 2024, which may reassure investors of the company's ability to expand its financial top line.
Among the "InvestingPro Tips" for Haemonetics, two particularly relevant ones include the company's high shareholder yield and the fact that cash flows can sufficiently cover interest payments. These insights suggest that Haemonetics is rewarding its shareholders and maintaining a healthy financial buffer, respectively.
For investors seeking a more in-depth analysis, there are additional "InvestingPro Tips" available for Haemonetics at https://www.investing.com/pro/HAE. With the use of the coupon code PRONEWS24, readers can enjoy an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to comprehensive insights that can further guide investment decisions.
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